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| Author | : Republic of Serbia |
| Publisher | : DigiCat |
| Total Pages | : 98 |
| Release | : 2022-09-15 |
| Genre | : History |
| ISBN | : |
This work presents the Constitution of Serbia, one of the first countries to adopt a democratic constitution. It is also known as the Mitrovdan Constitution, which was adopted in 2006, replacing the previous one dating from 1990. The Constitution contains a preamble, 206 articles, 11 parts, and thirty amendments.
| Author | : International Monetary Fund. European Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 65 |
| Release | : 2015-06-26 |
| Genre | : Business & Economics |
| ISBN | : 1513586211 |
This paper discusses Serbia’s First Review Under the Stand-By Arrangement. The program is broadly on track. All end-March 2015 performance criteria and indicative targets were met with comfortable margins. All end-March structural benchmarks were implemented, although with a delay, and all prior actions were met. The economy has stabilized, on the back of lower oil prices and stronger than expected trading partner growth. Inflationary pressures remain subdued. The external position has strengthened. Despite monetary easing, credit growth remains sluggish, and nonperforming loans continue to pose a challenge. Risks to the program come from possible spillovers from regional developments and increase in market volatility, as well as delayed implementation of structural reforms.
| Author | : International Monetary |
| Publisher | : International Monetary Fund |
| Total Pages | : 69 |
| Release | : 2021-12-21 |
| Genre | : Business & Economics |
| ISBN | : 1616358955 |
An economic recovery is underway on the heels of the authorities’ large and timely policy response. By 1Q2021, GDP exceeded its pre-crisis level and growth in 2021 is expected to reach 6.5 percent, supporting a smaller-than-expected fiscal deficit. Headline inflation increased above the 4.5 percent upper limit of the target band in September and October. Regulated energy prices for consumers are not expected to change until next spring, but electricity prices for corporates are set to increase. A new pandemic wave that started in late-July persists though activity seems to have decoupled from infections. With a gradual normalization of demand and supply conditions, growth is projected to reach 4.5 percent in 2022. Inflation is expected to revert to the lower half of the inflation tolerance band in 2H2022 as the effects from this year’s drought wane and energy prices stabilize.
| Author | : International Monetary Fund. European Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 74 |
| Release | : 2017-12-21 |
| Genre | : Business & Economics |
| ISBN | : 1484334795 |
This paper discusses Serbia’s Eighth Review Under the Stand-By Arrangement. Notwithstanding some temporary supply shocks, economic activity remains robust, supported by recovery of private consumption and strong foreign direct investment. Significant fiscal over-performance has continued and efforts to address structural weaknesses have been accelerated. This, along with a healthy credit recovery on the back of substantial monetary policy easing, has helped support growth, while low inflation has reinforced recovery in real incomes. Continuing broader structural reforms are needed to improve the business climate and support Serbia’s medium-term growth.
| Author | : International Monetary Fund. European Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 99 |
| Release | : 2022-06-29 |
| Genre | : Business & Economics |
| ISBN | : |
The economy has navigated the COVID-19 pandemic well. In 2021, real GDP growth strongly rebounded by 7.4 percent, supporting a narrower fiscal deficit of 4.1 percent of GDP and a decline in the public debt ratio, and consistent with a return to pre-pandemic medium-term trend growth.
| Author | : International Monetary Fund. European Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 84 |
| Release | : 2018-07-24 |
| Genre | : Business & Economics |
| ISBN | : 148437049X |
Serbia succeeded in addressing macroeconomic imbalances and restoring confidence and growth under the precautionary SBA which expired in February 2018. Fiscal sustainability has been restored by placing public debt on a firm downward path and the external position has been realigned with fundamentals. Monetary policy has kept inflation under firm control, while supporting economic recovery. The resilience of the financial sector has improved. Progress has also been made on structural and institutional reforms, including in rationalizing the size of public sector employment, addressing fiscal risks from SOEs, and improving the business environment. However, challenges remain for achieving robust, inclusive, and sustainable growth, which Serbia needs for faster income convergence with its EU peers. The authorities requested a 30-month Policy Coordination Instrument (PCI) to provide a framework for continued macroeconomic stability and reforms, and maintain close policy dialogue with staff.
| Author | : International Monetary Fund. European Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 74 |
| Release | : 2015-10-28 |
| Genre | : Business & Economics |
| ISBN | : 1513524747 |
This paper discusses Serbia’s Second Review Under the Stand-by Arrangement (SBA) and Request for Waivers of Applicability of Performance Criteria (PCs). The economy of Serbia is gradually recovering from the 2014 recession, supported by strong export performance coupled with a smaller-than-expected fall in consumption. Inflation has remained below the National Bank of Serbia tolerance band due mainly to low imported inflation. All end-June PCs and indicative targets were met with significant margins. The IMF staff supports the authorities’ request for the completion of the Second Review under the SBA, given the program performance so far and the policy commitments going forward.
| Author | : International Monetary Fund. European Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 82 |
| Release | : 2016-09-02 |
| Genre | : Business & Economics |
| ISBN | : 1475532334 |
This paper discusses Serbia’s Fourth and Fifth Reviews Under the Stand-By Arrangement and Rephasing of the Arrangement. The program is delivering good results, particularly in achieving key macroeconomic objectives. Significant fiscal tightening and efforts to address structural weaknesses have helped boost confidence and restore growth. This has been supported by a healthy credit recovery on the back of substantial monetary policy easing as inflation has been persistently low. Notwithstanding this progress, public debt remains elevated and delays continue in some structural reforms, in part owing to recent elections. Further structural reforms are required to improve the business climate and support Serbia’s medium-term growth.
